Stocks in Asia were little changed in Friday morning trade as tensions between China and the U.S. rise.
In Japan, the Nikkei 225 dipped slightly in early trade while the Topix index was flat. Over in South Korea, the Kospi was also unchanged.
Shares in Australia also trade close to the flatline, with the S&P/ASX 200 little changed.
Overall, the MSCI Asia ex-Japan index traded slightly lower.
Investors will watch for developments from China's National People's Congress, with the first plenary session set to kick off at around 9:00 a.m .HK/SIN. That comes as tensions between Beijing and Washington have risen in recent days.
"The temperature of US China tensions are rising and taking a bite out of risk sentiment everywhere, albeit only modestly so at this stage," Ray Attrill, head of foreign exchange strategy at National Australia Bank, wrote in a note.
Overnight on Wall Street, the Dow Jones Industrial Average closed 101.78 points lower, or 0.41%, at 24,474.12. The S&P 500 slipped about 0.8% to end its trading day at 2,948.51 while the Nasdaq Composite was down nearly 1% to close 9,284.88.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 99.417 after seeing a decline this week from levels above 100.
The Japanese yen traded 107.63 per dollar, off lows around 108 seen earlier in the trading week. The Australian dollar changed hands at $0.6568 after touching levels above $0.658 yesterday.
Oil prices were higher in the morning of Asian trading hours, with international benchmark Brent crude futures up 0.44% to $36.22 per barrel. U.S. crude futures also edged 0.15% higher to $33.97 per barrel.
What's on tap for Friday:
- China: 13th National People's Congress first plenary session at 9:00 a.m HK/SIN
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May 22, 2020 at 07:12AM
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Asia stocks little changed as U.S.-China tensions rise - CNBC
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